BCH has been one of the biggest gainers in the last week, and that momentum continued during Tuesday’s session. As of writing this, ADA and HNT were also trading by over 10% higher, as bullish pressure remained within crypto markets.
Bitcoin Cash (BCH)
BCH was undoubtedly one of the biggest gainers on Tuesday, as it rose for its fourth session in the last five days.
Following a low of $320.29 on Monday, BCH/USD climbed to an intraday high above $375 on Tuesday.
Today’s move came as prices surged past the recent resistance level of $334, and rose to their highest level since January 18.
As a result of today’s rally, BCH is now trading over 30% higher in the last seven days, with today’s value climbing by 13.55%, as of writing.
Looking at the chart, the 14-day RSI is now tracking at 72.19, which is easily the most price strength it has hit since last August.
Logically, many will now be anticipating a reversal, however, with the 10-day and 25-day moving averages only just crossing, there could still be further gains.
Although ADA rose by almost 10% earlier in today’s session, it somewhat fell off from those highs, giving way to other big movers on Tuesday.
One of these was HNT, which remained over 10% higher for the majority of today’s action, climbing to an intraday high of $24.51 in the process.
This follows on from yesterday’s low of $21.26, which came after a selloff at the resistance level of $24.85.
As of writing this, HNT is now slightly over this ceiling due to today’s gain, however as seen from the chart, the level of uncertainty still remains.
The 14-day RSI has moved past its ceiling of 54 and is now at 57, which is its highest since January 5.
Despite this, bullish momentum could continue, with the possibility of a run to $28 still on the cards.
Could we see this $28 level as earlier as this week? Let us know your thoughts in the comments.
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